Ocotillo Villas prepared the following adjusted trial balance for the year ended

December 31:

	Debits	Credits
Cash	$45,000
Revenue		$60,000
Common Stock		50,000
Depreciation expense	8,000
Retained earnings		15,000
Accounts receivable	15,000
Unearned revenue		12,000
Cost of goods sold	30,000
Equipment	40,000
Accumulated depreciation		14,000
Note payable to bank		23,000
Wages expense	6,000
Inventory	25,000
Dividends	5,000
Total	$174,000	$174,000

Using the adjusted trial balance from above, what is Ocotillo Villas' net income for

the year ended December 31?

Select one:

$11,000

$16,000

$28,000

$23,000